Q1 Record the following transaction in the Journal 1- On January 1**/ 2021 Eric opened a new business that sells diving equipment called the Blue Ocean. He opened a bank account under Blue Ocean name and invested 20,000 cash. 2- On January 2nd / 2021 he purchased equipment for 320,000 and paid 300,000 cash and the rest 20,000 on account to be paid later. 3- On January 3rd / 2021 he paid 2000 cash for office rent 4- On January 4th / 2021 paid 1200 one year insurance which will expire on next year Date Account Ref Dr Cr